Haverford Financial Services Inc. Reduces Stock Holdings in Medtronic plc (NYSE:MDT)

Haverford Financial Services Inc. trimmed its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,905 shares of the medical technology company's stock after selling 31,301 shares during the quarter. Medtronic accounts for about 1.5% of Haverford Financial Services Inc.'s portfolio, making the stock its 27th largest position. Haverford Financial Services Inc.'s holdings in Medtronic were worth $4,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC boosted its position in Medtronic by 4.5% in the fourth quarter. LPL Financial LLC now owns 1,140,884 shares of the medical technology company's stock valued at $91,134,000 after buying an additional 48,749 shares during the last quarter. Banco de Sabadell S.A boosted its holdings in shares of Medtronic by 13.9% in the 4th quarter. Banco de Sabadell S.A now owns 24,581 shares of the medical technology company's stock valued at $1,959,000 after acquiring an additional 3,008 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Medtronic in the 4th quarter valued at $39,185,000. AXQ Capital LP increased its stake in shares of Medtronic by 33.3% in the fourth quarter. AXQ Capital LP now owns 5,358 shares of the medical technology company's stock worth $428,000 after acquiring an additional 1,340 shares during the period. Finally, Umpqua Bank raised its holdings in shares of Medtronic by 10.6% during the fourth quarter. Umpqua Bank now owns 3,401 shares of the medical technology company's stock worth $290,000 after purchasing an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

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Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $96.07.

Medtronic Price Performance

Shares of MDT stock traded down $1.17 on Tuesday, reaching $88.96. 2,254,951 shares of the company were exchanged, compared to its average volume of 7,651,336. The company has a market cap of $114.10 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The business has a 50-day moving average price of $90.84 and a 200 day moving average price of $88.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.15%. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.